HMM to Order 20 Mega Containerships

South Korea's largest shipping line Hyundai Merchant Marine (HMM)
announced it will order 20 new containerships, including eight
14,000 TEU vessels and 12 ships above 20,000 TEU.

The announcement comes less than a week after the South Korean
government unveiled its Five-year Plan for Rebuilding Korean
Shipping.

HMM said it has sent a request for proposal (RFP) to eligible
shipbuilders. Once a builder is selected, HMM will decide between
scrubbers or liquefied natural gas (LNG) bunkering in order to
comply with the environmental regulations due to enter force in
2020.

The larger vessels will be deployed on Asia-North Europe routes
while the 14,000 TEU ships will serve the U.S. East coast
trade.

"Through this new shipbuilding, HMM will be able to secure
stronger fleet competitiveness with the benefit of economies of
scale. Furthermore, it will help HMM to form a stable basis for
making profits in the intensely competitive market," the company
said in a press release.